HSBC has signed an agreement with Globality to adopt its artificial intelligence platform for sourcing and procurement of services.
The bank will be now able to scope projects in hours rather than days, and match unique requirements to relevant suppliers around the world.
Globality’s marketplace provides companies with a secure digital way to fully scope projects, engage qualified suppliers, assure pricing and competition, evaluate proposals, and make informed sourcing decisions.
“Utilising AI technology and Globality’s smart sourcing process will ensure that all HSBC service providers, large or small, win projects in a transparent digital platform where decisions are based solely on the merits of quality, results, costs and performance,” said Globality co-founder, chairman and chief executive Joel Hyatt.
In January, Globality raised $100 million from the SoftBank Vision Fund, bringing the total investment it has raised since its founding four years ago to $172 million.
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